Bank of India posted a growth of 8.98% in Net Profit for the 9 months ended 30th December 2013 amounting to Rs. 2,172 crore for the 9 months ended 31st December 2013 from Rs. 1,993 crore for the 9 months ended 31st December 2012. For the 9 months ended 31st December 2013, Operating Profit grew 19.39% from Rs. 5,383 crore in December-12 to Rs.6,427 crore in December-13. Net Interest Income grew 18.86% from Rs. 6,548 crore in December-12 to Rs.7,783 crore in December-13. Non-Interest Income grew 26.42% from Rs. 2,672 crore in December-12 to Rs.3,378 crore in December-13.

The Bank of India annual results were declared by the Bank’s senior management comprising Smt. V. R. Iyer (Chairperson and Managing Director) and other Board of Directors.

As of December 31st 2013, Bank’s distribution network at 4522 Branches and 3362 ATMs, with increase of 230 Branches and 1229 ATMs over 4292 Branches and 2133 ATMs as of March 31st 2013.

The way forward for the Bank will be as per the motto of “PERFORM TO POTENTIAL” with the emphasis on CASA growth; Expansion of SME, Retail and Rural Business; Focus on Credit Monitoring and Recovery in NPA; Inclusive Growth through Financial Inclusion; Progress on Alternate Delivery Channels for better Customer Satisfaction; Focused attention on Human Resources.”

GLOBAL BUSINESS

Global Business increased from Rs.6,29,473 crore in December-12 to Rs. 6,74,808 crore in March 2013 (7.20%) and to Rs.8,10,687 crore in December-13. (20.14% over Mar’13 & YoY is 28.79%). Global Deposits increased from Rs.3,49,117 crore in December-12 to Rs.3,81,840 crore in March-13 (9.37%) and to Rs.4,54,140 crore in December-13. (18.93% over Mar-13 & YoY is 30.08%). Global Advances increased from Rs. 2,80,356 crore in December-12 to Rs. 2,92,968 crore in March-13 (4.50%) and to Rs.3,56,547 crore in December-13. (21.70% over Mar-13 & YoY is 27.18%).

DOMESTIC BUSINESS

Domestic Business increased from Rs. 4,57,156 crore in December-12 to Rs.4,98,103 crore in March-13 (8.96%) and to Rs.5,75,117 crore in December-13. (15.46% over Mar-13 & YoY is 25.80%). Domestic Deposits increased from Rs. 2,68,176 crore in December-12 to Rs.2,94,067 crore in March-13 (9.65%) and to Rs.3,39,714 crore in December-13. (15.52% over Mar-13 & YoY is 26.68%). Domestic Advances increased from Rs. 1,88,980 crore in December-12 to Rs.2,04,036 crore in Mar-13.(7.97%) and to Rs.2,35,403 crore in December-13. (15.37% over Mar-13 & YoY is 24.57%).

INTERNATIONAL BUSINESS

International Business increased from Rs. 1,72,317 crore in December-12 to Rs.1,76,705 crore in March-13 (2.55%) and to Rs.2,35,570 crore in December-13. (33.31% over Mar-13 & YoY is 36.71%). International Deposits increased from Rs. 80,941 crore in September-12 to Rs.87,773 crore in March-13 (8.44%) and to Rs.114,426 crore in December-13. (30.37% over Mar-13 & YoY is 41.37%). International Advances declined from Rs. 91,376 crore in December-12 to Rs.88,932 crore in March-13 (-2.67%) and increased to Rs.121,144 crore in December-13. (36.22% over Mar-13 & YoY is 32.58%).

CASA

CASA Deposits increased from Rs.87,972 crore in December-12 to Rs.93,800 crore in March-13 (6.62%) and to Rs.101,957 crore in December-13. (8.70% over Mar-13 & YoY is 15.90%). Savings Deposits increased from Rs.72,000 crore in December-12 to Rs.77,031crore in March-13 (8.53%) and to Rs.82,138 crore in December-13 (4.22% over Mar-13 & YoY is 14.08%). Current Deposits increased from Rs.15,972 crore in December-12 to Rs.16,769 crore in March-13 (4.99%) and to Rs. 19,819 crore in December-13 (18.19% over Mar-13 & YoY is 24.09%).

ASSET QUALITY

Gross NPA ratio improves from 2.93% in September-13 to 2.81% in December-13 (3.08% in December-12). Net NPA ratio improves from 1.85% in September-13 to 1.75% in December-13 (1.97% in December-12). Provision Coverage Ratio improves from 63.29% in September-13 to 63.77% in December-13 (60.74% in December-12).

CAPITAL ADEQUACY RATIO

Capital Adequacy Ratio of the Bank under Basel II is 10.53% as on December 31, 2013. Tier I CRAR is 7.45% as on December 31, 2013. Tier II CRAR is 3.08% as on December 31, 2013. Capital Adequacy Ratio of the Bank under Basel III is 10.70% as on December 31, 2013.

IMPORTANT RATIOS

Global NIM improves from 2.35% in December-12 to 2.37% in December-13, Domestic NIM improves from 2.73% in December-12 to 2.89% in December-13. Return on Assets (ROA) is 0.56% in December-13. Cost to Income ratio is 42.42% in December-13. Business per Employee increased from Rs.14.51 crore in December-12 to Rs.18.44 crore in December-13 and Business per Branch improved from Rs.150.74 crore in December-12 to Rs.178.13 crore in December-13. Cost of Deposit brought down from 6.01% in December-12 to 5.66% in December-13.

AWARDS & ACCOLADES

Bank received MSME Excellence Award 2013 at the hands of Deputy Chairman, Planning Commission, Govt. of India. Bank received IBA instituted award at BANCON 2013 for Most Innovative Mass Retail Lender for underserved segments. Bank has been awarded the ‘Outlook Money Award 2012’ for “Best Education Loan” provider. Bank has been rated by Economic Times as the “Second Most Trusted Brand in India” among the PSU banks. Bank has been ranked Second by Ministry of MSME, New Delhi based on its performance in lending to Micro Enterprises. Bank has received “Best Banker” award at the India SME excellence Awards-2013, for exemplary contribution in Banking Sector. Bank received the Certificate of Excellence for IT Security implementation – STARTOKEN Next generation Two Factor Authentication, from eIndia.